Essential Quotes

Monday, August 20, 2007

For years, the military has been warning that soldiers' blogs could pose a security threat by leaking sensitive wartime information. But a series of online audits, conducted by the Army, suggests that official Defense Department websites post material far more potentially harmful than anything found on a individual's blog.

The immediate triggers are being described quite well: the collapse of the U.S. subprime mortgage market; the vulnerability of the rest of the economy to the subprime undertow, due to the “efficiency” of the markets in spreading risk; the worldwide overextension of cheap credit; the failure of large institutional investors and Wall Street brokerages to behave responsibly; and the long-term effects of the U.S. trade and fiscal deficits which are now coming home to roost.

Canadian jurisdiction over its Northern territories was redefined, following an April 2002 military agreement between Ottawa and Washington. This agreement allows for the deployment of US troops anywhere in Canada, as well as the stationing of US warships in Canada's territorial waters.